Synopsys Inc (SNPS)

Fixed asset turnover

		Oct 31, 2023	Oct 31, 2022	Oct 31, 2021	Oct 31, 2020	Oct 31, 2019
Revenue	US$ in thousands	5,842,620	5,081,540	4,204,190	3,685,280	3,360,690
Property, plant and equipment	US$ in thousands	557,261	483,300	472,398	483,818	429,532
Fixed asset turnover		10.48	10.51	8.90	7.62	7.82

October 31, 2023 calculation

Fixed asset turnover = Revenue ÷ Property, plant and equipment
= $5,842,620K ÷ $557,261K
= 10.48

The fixed asset turnover of Synopsys, Inc. has shown a consistent upward trend from 2019 to 2022, indicating an improvement in the company's efficiency in generating sales from its fixed assets. The ratio peaked at 10.51 in October 2022 before slightly decreasing to 10.48 in October 2023. This suggests that Synopsys has been effectively utilizing its fixed assets to generate sales revenue, as the company is generating over 10 times the value of its fixed assets in sales. The high fixed asset turnover may indicate that the company has been making efficient use of its investments in property, plant, and equipment to generate revenue. Overall, the trend in fixed asset turnover reflects positively on the company's operational efficiency and asset utilization over the years.